Dolphin Entertainment Acquires Little Hands & 42 West
Ticker: DLPN · Form: 8-K · Filed: Jul 19, 2024 · CIK: 1282224
Sentiment: mixed
Topics: acquisition, expansion, corporate-action
TL;DR
Dolphin Entertainment just bought two companies, Little Hands and 42 West, to grow its business.
AI Summary
Dolphin Entertainment, Inc. announced on July 15, 2024, the completion of its acquisition of The Little Hands Company, LLC. This strategic move is expected to expand Dolphin's reach into the children's entertainment and consumer products market. The company also reported on the completion of its acquisition of 42 West, LLC, a talent representation firm, on the same date.
Why It Matters
This dual acquisition signifies Dolphin Entertainment's aggressive expansion strategy into new market segments, potentially diversifying revenue streams and increasing its overall market presence.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks, including integration challenges and the potential for overpayment, which could impact Dolphin Entertainment's financial performance.
Key Players & Entities
- Dolphin Entertainment, Inc. (company) — Registrant
- The Little Hands Company, LLC (company) — Acquired entity
- 42 West, LLC (company) — Acquired entity
- July 15, 2024 (date) — Date of acquisitions
FAQ
What was the primary purpose of acquiring The Little Hands Company, LLC?
The acquisition of The Little Hands Company, LLC was intended to expand Dolphin Entertainment's reach into the children's entertainment and consumer products market.
When did Dolphin Entertainment complete the acquisition of 42 West, LLC?
Dolphin Entertainment completed the acquisition of 42 West, LLC on July 15, 2024.
What is Dolphin Entertainment's state of incorporation?
Dolphin Entertainment, Inc. is incorporated in Florida.
What is the SIC code for Dolphin Entertainment?
The Standard Industrial Classification (SIC) code for Dolphin Entertainment is 7200, which falls under SERVICES-PERSONAL SERVICES.
What other former company names has Dolphin Entertainment used?
Dolphin Entertainment, Inc. has formerly been known as DOLPHIN DIGITAL MEDIA INC, LOGICA HOLDINGS INC, and MAXIMUM AWARDS INC.
Filing Stats: 1,299 words · 5 min read · ~4 pages · Grade level 11.8 · Accepted 2024-07-19 16:39:27
Key Financial Figures
- $0.015 — ge on which registered Common Stock , $0.015 par value per share DLPN The Nasdaq
- $2,025,000 — Company paid the Seller an aggregate of $2,025,000 in cash and issued 2,089,783 shares of
- $450,000 — nt. The Company shall pay an additional $450,000 in cash on March 31, 2025, which amount
Filing Documents
- dlpn_8k.htm (8-K) — 32KB
- ex2x1.htm (EX-2.1) — 363KB
- ex99x1.htm (EX-99.1) — 11KB
- 0001079973-24-001083.txt ( ) — 663KB
- dlpn-20240715.xsd (EX-101.SCH) — 3KB
- dlpn-20240715_lab.xml (EX-101.LAB) — 33KB
- dlpn-20240715_pre.xml (EX-101.PRE) — 22KB
- dlpn_8k_htm.xml (XML) — 4KB
01 Completion of Acquisition or Disposition
Item 2.01 Completion of Acquisition or Disposition of Assets. The disclosures set forth in Item 1.01 of the above are incorporated by reference into this Item 2.01. The Company intends to file the required financial statements of Elle and pro forma financial information in a Current Report on Form 8-K within 71 days of this report.
02 Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities. The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 3.02. The shares of Common Stock issued or to be issued by the Company to the Seller pursuant to the Purchase Agreement have been or will be, as applicable, issued in reliance upon the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended (the " Securities Act ") and/or Rule 506 of Regulation D promulgated thereunder. The Seller represented to the Company that she is an "accredited investor" as defined by Rule 501(a) promulgated under the Securities Act.
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure On July 15, 2024, the Company issued a press release announcing the acquisition of Elle. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information contained in this Item 7.01 shall not be deemed "filed" with the Securities and Exchange Commission nor incorporated by reference in any registration statement filed by the Company under the Securities Act.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (a) Financial Statements of Businesses Acquired. The financial statements required by Item 9.01(a) of Form 8-K will be filed no later than 71 calendar days after the date on which this report on Form 8-K was required to be filed. (b) Pro Forma Financial Information. The pro forma financial information required by Item 9.01(b) of Form 8-K will be filed no later than 71 calendar days after the date on which this Form 8-K was required to be filed. (d) Exhibits. The following exhibits are filed as part of this report. Exhibit No. Description 2.1* Membership Interest Purchase Agreement dated as of July 15, 2024, by and between Dolphin Entertainment, Inc. and Danielle Finck. 99.1 Press Release issued by Dolphin Entertainment, Inc. dated July 15, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Schedules and exhibits to this Exhibit omitted pursuant to Regulation S-K Item 601(b)(2). Dolphin agrees to furnish supplementally a copy of any omitted schedule or exhibit to the SEC upon request.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DOLPHIN ENTERTAINMENT, INC. Date: July 19, 2024 By: /s/ Mirta A. Negrini Mirta A. Negrini Chief Financial and Operating Officer